东鹏饮料聚焦功能饮料行业，「东鹏特饮」已成中国以零售额计的百亿级大单品。东鹏饮料口号模仿了红牛，其口号是"累了、困了、喝东鹏特饮"。 截至目前，东鹏饮料的产品矩阵已涵盖能量饮料、运动饮料、茶饮料、咖啡饮料、植物蛋白饮料和果蔬汁饮料等多个品类。 东鹏饮料联席保荐人分别为华泰国际、摩根士丹利、UBS瑞银集团。这之前，美的集团、顺丰控股、恒瑞医药等企业已在H股上市。 年营收158亿，同比增40.63% 财报显示，东鹏饮料2024年营收为158.3亿元，较上年同期的112.57亿元增长40.62%。 东鹏饮料(集团)股份有限公司（简称："东鹏饮料"）日前递交招股书，准备在港交所上市。 | | | | 截至12月31日止年度 | | | | | 截至6月30日止六個月 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2022年 | | 2023年 | | 2024年 | | 2024年 | | 2025年 | | | 人民幣 | | % | 人民幣 | % | 人民幣 | % | 人民幣 | % | 人民幣 | ...

今年以来，海外资金加速流入新兴市场，估值不断升温的港股成为企业上市的热门地。据德勤统计，前 三季度港交所以超过1800亿港元的融资额在全球各大交易所中排名第一。赴港上市的大军中不乏深圳企 业，它们借助H股发行机会引入国际投资者，积极推进全球化发展。（深圳特区报） 来源：智通财经 ...

圣邦股份主要是做高性能集成电路以及传感器，当然过去的一年时间，在港股上市成了A股上市公司比较热门的选择，你包括电池龙头宁德时代已经在港股 上市，还有像现在的芯片龙头中芯国际早早的也已经成功在港股上市了，从这些现象看，港股上市如今显得格外热门了。 那么问题来了，为什么A股公司热衷于在港股上市呢？ A股上市公司圣邦股份在国庆之前就发布公告称，公司已经在9月28日向香港联交所递交公开发行境外上市股份，简单说就是圣邦股份拟在港股IPO了，按照 相关负责人接受采访的内容看，到香港上市是全球化战略布局的关键，主要是为了提升国际化品牌形象，多元化的融资渠道，吸引更多的研发人才和管理人 才，从而进一步提升公司的核心竞争力。 简单说，在港股上市的确可以促进品牌的曝光度，还能更为明显的体现出公司应该有的价值和市值，并得到全球化估值定位，对企业发展和融资都有重要意 义。 对我们的投资能带来什么影响？ 其实我一直在说在资金配置方面应该两条腿走路，就是一边A股，一边是港股，换句话说A股有自身的稳定机制，而港股的弹性一直都很好，对提升投资效 率方面有着积极的作用。 我觉得从宁德时代在港股上市开始，似乎预示着一个积极的信号，就是A股行业龙 ...

Core Insights - The primary focus of the article is the resurgence of the Hong Kong IPO market, highlighting increased activity from both limited partners (LPs) and companies seeking to list [3][4][7]. Group 1: Market Activity - Since 2025, the primary market has shown significant activity, with LPs' funding willingness rebounding, leading to an 8% increase in total funding scale and a 26% rise in activity compared to July [3]. - Financial institution LPs saw a 36% increase in funding scale, while financial LPs' activity rose by 7% and funding scale surged by 119%, particularly with notable foreign investments [3]. Group 2: IPO Trends - The Hong Kong IPO market is experiencing a strong comeback, with expectations of over 80 new listings in 2025, raising between 2500 million HKD to 2800 million HKD [8]. - In the first three quarters of this year, 66 new stocks are projected to raise 1823 million HKD, a 47% increase in the number of new stocks and a 228% increase in funding compared to the same period last year [8]. Group 3: Institutional Shifts - There has been a notable shift in institutional attitudes towards Hong Kong, with many VC/PE firms now prioritizing Hong Kong in their strategic plans [11]. - The capital market's activity has significantly increased since September of last year, with trading volume, turnover rates, and the scale of listed companies all experiencing substantial growth [12]. Group 4: Ecosystem Development - The local innovation ecosystem in Hong Kong is maturing, supported by various resources such as universities and guiding funds, facilitating deeper integration between mainland and Hong Kong venture capital ecosystems [13]. - Strategic collaborations are being formed to connect mainland tech companies and investment firms with local partners in Hong Kong [13]. Group 5: Future Outlook - The article concludes that the IPO pipeline in Hong Kong is robust, with ongoing listings from sectors like consumer goods and robotics, indicating a sustained market prosperity [15].

三、请结合你公司及下属公司业务及资质许可等情况，列表说明备案材料所述主管部门的实际日常监管 情况，包括主管部门名称、监管领域、业务内容、产品名称、涉及的资质许可情况等。 【深度】卧龙电驱港股上市业绩虚胖？会计差错背后现"关联自销式"贸易 出表公司曾财务造假 近日，卧龙电驱收到证监会关于本次境外上市的备案反馈意见，具体反馈如下：一、请说明备案材料对 控股股东认定结果不一致的原因及认定标准，并就控股股东的认定情况出具明确结论性意见。 二、请说明控股股东持有你公司的股份存在质押的具体情况，及其对你公司及下属公司控制权和正常业 务开展的影响，是否构成《境内企业境外发行证券和上市管理试行办法》第八条规定的不得境外上市情 形。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 四、请说明（1）你公司下属公司经营范围包含房地产开发销售的具体情况，是否实际开展相关业务及 未来业务计划，是否已取得必要的资质许可；（2）本次发行上市后，浙江舜云穿透后的具体外资占 比，你公司及下属公司在本次发行上市后是否持续符合外资准入政策要求。 责任编辑：常福强 ...

南方财经见习记者 王达毓 广州报道 马宏伟认为，港股上市有三个方面的优势。一是监管审批角度优势，港股制度相对较为透明，上市周期 短、效率高；二是声誉角度，港股国际化水平高，在港股上市能提高国际知名度，并提高国际投资者的 认可度；三是离岸资金角度，在港股上市的企业通常有海外业务，募集所得离岸资金可直接用于海外业 务，帮助提高企业的经营效率。这些优势共同推动了内地企业加速赴港布局。 为了更好助力大湾区企业赴港上市，9月26日，大成律师事务所在广州举办以"香港上市"为主题的第一 届大成大湾区资本市场论坛，律所、券商等业内专家从政策解读、市场趋势、实操落地等方面热议如何 助力中国企业"走出去"，拥抱国际资本市场。 今年以来，港股IPO市场强劲复苏，内地企业赴港上市热度飙升。 清科股权市场负责人李辉在论坛中接受南方财经记者采访时表示，受A股IPO阶段性收紧、地缘政治等 因素影响，香港成为了许多优质企业上市的首选地。 李辉进一步解释，港股的优势就在于资本市场活跃和规则透明。港股资本市场的活跃，一部分是因为国 际资本到香港追求财务性回报，但更重要的是港股通等金融基础设施对港股的流动性支持。 李辉表示，过去一段时间港股出现了 ...

Group 1: Company Strategy and Goals - The company aims to achieve a revenue target of 60 billion yuan by 2030, with over 60% of this coming from international sales and a net profit margin of no less than 8% [3] - Key initiatives to reach these goals include developing three growth curves, enhancing regional capabilities, and improving product competitiveness and operational efficiency [3][4] Group 2: Market Expansion and Competition - The company plans to focus on seven strategic markets and eight key markets for overseas expansion, leveraging electric and intelligent products to create competitive advantages [4][5] - In response to domestic competition, the company will adopt a differentiated strategy targeting mid-sized open-pit mining customers and providing solutions like electrification and automation [5] Group 3: Financial and Stock Market Considerations - The company is considering a potential listing in Hong Kong, influenced by over 60 A-share companies applying for listings and the favorable market conditions expected in the next two years [6] - The major shareholder is committed to increasing their stake in the company, reinforcing confidence in its long-term development [8] Group 4: Internal Management and Incentives - Following the board restructuring, the company has maintained a stable core management team and continues to implement a flexible and effective incentive mechanism [9] - The company emphasizes long-term value creation and rejects chaotic price competition, focusing instead on technological innovation and comprehensive solutions [11] Group 5: Challenges and Risk Management - The tower crane business has faced significant impairment due to the downturn in the domestic real estate market, leading to increased credit impairment provisions [12] - The company is actively assessing the impact of this impairment and enhancing credit asset management to prevent systemic risks [12]

Core Viewpoint - Bidda Pharmaceutical is planning to issue H-shares and apply for listing on the Hong Kong Stock Exchange to enhance its capital strength and competitiveness, while also advancing its internationalization process [1] Group 1: Financial Performance - For the first half of 2025, Bidda Pharmaceutical reported revenue of 1.731 billion yuan, a year-on-year increase of 15.37%, but the net profit attributable to shareholders dropped by 37.53% to 140 million yuan, marking the first half-year profit decline since 2022 [2] - The company's second-quarter performance showed a revenue of 814 million yuan, a slight increase of 6.39%, while net profit fell significantly by 68.36% to 39.81 million yuan [2] Group 2: Debt and Financial Pressure - Bidda Pharmaceutical is facing financial pressure, with current assets of 1.359 billion yuan against current liabilities of 1.757 billion yuan as of mid-2023, resulting in a cash and cash equivalents balance of 527 million yuan [4] - The company has an outstanding payment of 180 million yuan to Yifang Bio for a milestone payment related to a lung cancer drug project, which has been overdue for nearly two years [3] - As of the first half of 2025, the total accounts payable amounted to 580 million yuan, with 180 million yuan being overdue payments to Yifang Bio [3] Group 3: Research and Development - Bidda Pharmaceutical's R&D investment has been declining, dropping from 700 million yuan in 2022 to 500 million yuan in 2024, with only 255 million yuan spent in the first half of 2025, a slight decrease of 0.63% year-on-year [3]

Core Viewpoint - Huaqin Technology (603296.SH) announced the early termination of the share reduction plan by five employee stockholding platforms, which collectively cashed out approximately 3.578 billion yuan [1][2]. Group 1: Share Reduction Details - The five employee stockholding platforms reduced their holdings by a total of 38.96 million shares, resulting in a cash-out of 3.578 billion yuan [2]. - The shares sold were obtained prior to the company's IPO and through capital reserve conversion [2]. - Following the reduction, the shareholding ratios of the five platforms decreased to 4.93%, 4.74%, 4.61%, 4.54%, and 4.20%, respectively, meaning they are no longer major shareholders [2]. Group 2: IPO and Market Performance - Huaqin Technology submitted its IPO application to the Hong Kong Stock Exchange on September 16, 2023, with CICC and Bank of America as joint sponsors [1][3]. - The company's A-share IPO price was 80.8 yuan per share, and the stock price has fluctuated, reaching a historical low of 42.84 yuan on September 9, 2024, before rebounding to a high of 105.98 yuan in late February [3]. - As of September 18, 2023, the stock price closed at 94.28 yuan, reflecting a 16.68% increase from the IPO price, with a market capitalization of 99.5 billion yuan [3]. Group 3: Company Statements - The company clarified that the early termination of the share reduction plan is unrelated to its IPO plans in Hong Kong, stating that these events are independent [5]. - The company indicated that the employee stockholding platforms' reductions are driven by personal financial needs of long-term employees, rather than a strong demand for reduction from executives [5]. - The company aims to use the funds raised from the IPO for product-centric R&D, expanding and optimizing manufacturing networks, global strategic investments, and general corporate purposes [5].

Core Viewpoint - Huaqin Technology announced the early termination of the share reduction plan by five employee shareholding platforms, which collectively cashed out approximately 3.578 billion yuan [1][2]. Group 1: Share Reduction Details - The five employee shareholding platforms reduced their holdings by a total of 38.96 million shares, resulting in a cash-out of 3.578 billion yuan [2]. - The share reduction period was initially set from August 18, 2025, to November 17, 2025, and the total reduction amount was not to exceed 4% of the company's total share capital [2]. - Following the reduction, the shareholding ratios of the five platforms decreased to 4.93%, 4.74%, 4.61%, 4.54%, and 4.2%, respectively, meaning they are no longer major shareholders [2]. Group 2: IPO and Market Performance - Huaqin Technology submitted its IPO application to the Hong Kong Stock Exchange on September 16, 2023, with CICC and Bank of America as joint sponsors [1][5]. - The company's A-share IPO price was 80.8 yuan per share, and the stock price experienced fluctuations, reaching a historical low of 42.84 yuan on September 9, 2024, before rebounding to a high of 105.98 yuan in late February [3]. - As of September 18, 2023, the stock price closed at 94.28 yuan, reflecting a 16.68% increase from the IPO price, and the market capitalization was approximately 99.5 billion yuan [3]. Group 3: Company Statements - The company clarified that the early termination of the share reduction plan is unrelated to its IPO plans in Hong Kong, stating that these events are independent [5]. - The company indicated that the shareholding reductions were primarily driven by long-term employees seeking to improve their personal financial situations [5]. - The company aims to use the funds raised from the IPO for product-centric R&D, expanding and optimizing manufacturing networks, global strategic investments, and general corporate purposes [5].